No snap back.
Market is set up to go down further.
AMZN should be at this level after ER last week. Too much payout for puts. So there was a delay drop.
Reality final kicks in this week.
Avoid options before earnings. Too expensive. A big drop doesn't warrant a big return.
Too much payout if AMZN crashed out below 550.
Or up 50 next week.
People who bought puts on Thursday in the run up didn't make out much on Friday even with a big drop. The puts had a huge premium on Thursday. Puts and calls got crushed on Friday morning.
People made a killing were the ones who sold puts and calls on Thursday run up.
Very well calculated pump and dump.
Today drop is a non event.
Stock up 50 a day before and down 48 a day after earnings.
They really screwed put and call buyers from a run up yesterday.
Americans love free food.
Coming back or not remains to be seen.
Instead of buying back stocks, they could use the money to pay dividends to shareholders.
A well coordinated short squeeze. Be careful going short.
Everyone already knows it's a losy Q.
Next couple Qs will be decimated.
Of course not.
No customers, no outbreak.